"One of the best firms in this field", The Legal 500
Delivering first-class legal advice is about understanding the needs of our clients to protect and preserve their wealth – not just for today, but for generations to come. We understand this because Private Client legal services have always been at the heart of our business.
Our expert Private Client lawyers provide advice on all aspects of wealth planning to a range of clients, including individuals, trustees, family offices and private banks. Our clients are both domestic and international. We have a strong reputation in the US, Asia and other global wealth centres.
We have the flexibility to work either with our clients’ existing advisors in other jurisdictions, or to choose the best international private client lawyers from our own extensive overseas network. We frequently act as a single point of contact for our international clients, and have the reach and expertise to coordinate advice from different jurisdictions.
Our partner-led approach, combined with our ability to find practical solutions is what matters to clients. Our advice is tailored to meet our clients’ objectives – that might be tax efficiency, asset protection or succession planning.
We make sure that we have a close involvement with leading professional bodies and tax working groups to ensure that we are always abreast of the latest developments in the law. In addition, we maintain the traditional values of discretion, quality and approachability which have enabled us to become trusted advisors.
Like all businesses, rural estates and property owners are suffering from the coronavirus-induced economic slowdown. They should, therefore, continue to make the most of the economic support available from the government. We have written about relevant measures introduced by the government in the past few months, including the furlough scheme, and set out the details here of further schemes announced in the government’s summer economic statement:
A practical checklist for the post-Covid world. The Covid-19 pandemic has had two major implications for family governance structures.
Given the numerous obligations and liabilities heaped upon trustees, many will be wondering what they should be doing during this Covid-19 crisis whilst it is not business as usual.
COVID-19: Relaxation of the Statutory Residence Test for individuals carrying out coronavirus related activities
In an effort to attract and retain those with expertise in fields that may help in fighting COVID-19 in the UK, the Chancellor has announced that the statutory residence test (SRT) will be relaxed for certain individuals for the period 1 March to 1 June (although the duration of the concessionary period will be kept under review).
COVID-19: HMRC guidance on Company Residence, Permanent Establishment and related issues regarding the Economic Substance Test
Her Majesty's Revenue and Customs (HMRC) published guidance on 9 April on the implications of COVID-19-related travel restrictions on a company's residence status. Such travel restrictions may force directors or employees to be present in the UK when they would not be here under normal circumstances. This situation raises concerns as to whether a foreign company may become resident for tax purposes in the UK because the central management and control (CMC) of the company might be considered to have moved here.
Few would have anticipated only a few weeks ago that by March, a large part of the world, including the UK, would be or have been in virtual lockdown with many planes grounded and borders closed. However, that is the result of the spread of COVID-19 and, while there are clearly many more significant challenges in relation to this virus for health and the global economy, there are also a number of tax and immigration consequences for individuals with connections in more than one jurisdiction, as well as for those based in the UK.